north kiara @ segambut.
project name?

More than 40% discount. Must be bankrupt already

And its going to be registered under transacted price. Banks most probably will lend up to that transaxted price only.

This post has been edited by kurtkob78: Oct 15 2017, 03:15 PM

yes lelong cannot mark up. can loan up to the winning bid price only.
for info, that unit sold at reserve price single bidder last week.

Means it can go lower if no bidder come. Kah kah

PETALING JAYA (Oct 6): There is a risk of a housing bubble if two key issues are unattended – namely the property glut in the higher-end segment and rising home prices, said Minister of Finance II Datuk Seri Johari Abdul Ghani.

"Despite continued growth, the Malaysian commercial property and housing market is currently [in] disproportion, or in certain segments, [there is] a glut," he said at the 20th National Housing & Property Summit 2017 today.

In his special address entitled "Financing Challenges for the Housing & Property Industry: Overcoming the Industry's Concerns", he pointed out that the oversupply of higher-end properties beyond what many households can afford has resulted in a significant portion of these non-affordable properties remaining unsold, where 83% of unsold units are priced above RM250,000.

https://www.edgeprop.my/content/1207755/hou...e-not-addressed

Rise in commercial property foreclosures

Year Units Value (RM)
2014 2,195 1.6 bil
2015 2,089 1.5 bil
2016 2,357 1.9 bil
1H2017 1,367 1.65 bil

The 28-storey leasehold Dynasty Hotel has been on the auction market since 2014. In the most recent auction on March 27, its reserve price was lowered to RM189 million from RM210 million in 2016.

Meanwhile, the 12-storey leasehold Empress Hotel, which has a land area of 29,644 sq ft, has been up for auction since 2016 with a reserve price of RM61.56 million. Th erecent auction on July 24, 2017 saw its reserve price lowered to RM40.5 million.

https://dbv47yu57n5vf.cloudfront.net/s3fs-p...2520_locked.pdf

So what do you guys think about the budget and the effect on property market?

dont buy property condo more than 400k ..simple enough

flippers going to die

During the property bull run, uuu/bbb loved to claim; they took the risk and deserved the profit. likewise for losses.

Leverage amplified profit as well as losses.

In all fairness, many experienced bbb uuu knows the market well and before the market went on a downtrend they would have let go of some of their units and made sure they are not overstretched.

Only those noob investors who believe the uuu bbb hypers too much end up overstretched and property kena lelong.

Only those weren't blinded by greed could off load before the price peak and early.

When the herd is blinded by greed, no one could stop the charging herd. most if not all herd members will end up in slaughter house. for reasons, only 4% of adults in the kangkong land have over us$100k net worth.

Looks like the number of affordable houses are going to be very limited and targeted to certain ateas only no?

people are not buying more than 500k properties. so many unsold units in this price range.

government going be more affordable housing.

so you tell us, are developers going to build more 500k props. ?

This post has been edited by kurtkob78: Oct 29 2017, 10:54 AM

Mmm...interesting point...but in a free market developer wud reduce their pricing but the problem is ours is not really, so they might still gang up between them and continue to build unaffordable housing just so they can prop the property market, but overall further softening of the property market is inevitable I think

just let them be. i wanna see how deep is their money. no sales, so they have to borrow more

Those developers bought land with bank loan may have no choice but to build.

I gotta reinstate that, the cost of construction has gone up substantially. No matter how u guys instilled fear on sudden crash of price of properties, its still growing as days go by. Yes demands have weaken due to poor sentiment. Still prime area with good pricing will still snatch out in no time.

We will see. Dun jump into conclusion too fast yet.

Meanwhile, FD Iskandar also noted that end-financing issues and unreleased bumiputera quota units have also kept units high, at above 70% since 1H2016.

Seventy-two per cent of respondents said they have properties that remain unsold after completion over the last three years, with 46 respondents revealing that they are holding over 30% of the unsold units.

https://www.edgeprop.my/content/1202698/mor...ir-downpayments

Construction cost may have gone up but at current selling price, developer could still afford to absorb incremental cost. given amount of over supply and number of developers' unsold units, developer is unlikely to rise price.

Call it a buyer's market. But to call it market crash or disastrous is an overstatement.